Ministry expects low inflation in 2015

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Should global oil prices remain low this year, the annual inflation in Hungary in 2015 could be lower than the previously projected 1.8%, the economy ministry announced today.

The ministry noted that as a result of the government-initiated reduction of utilities prices, consumer prices fell in December as well. On average, consumer prices fell by 0.2% last year and this trend is expected to continue, thereby keeping inflation low for the beginning of the year. According to the ministry, a “generally moderate inflationary environment throughout Europe” has also affected Hungarian figures.

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